Director, Payments Compliance – Regulatory Affairs

This is a fully remote position, open to applicants in Canada.

📋 Description

• Develop, sustain, and consistently enhance Brim's regulatory compliance program encompassing payments, card issuing, and safeguarding of funds.

• Oversee the regulatory compliance framework and policies for the protection of end-user funds as stipulated by the RPAA and RPAR.

• Keep abreast of and analyze changes to RPAA, AML/CTF, provincial consumer protection laws, and card network regulations.

• Convert regulatory modifications into revised internal policies and procedures.

• Assist the RPAA Senior Officer with filings to the Bank of Canada, annual reports, and notifications of incidents.

• Interpret and implement Payments Canada by-laws, rules, standards, and notices that impact card payment transactions, including ACSS, Lynx, and RTR.

• Evaluate and provide guidance on cardholder agreements, disclosures, and fee structures.

• Cultivate relationships with regulators, card networks, and Payments Canada.

• Address consultations and facilitate joint discovery initiatives.

• Collaborate with Legal, Risk, and external counsel on regulatory inquiries, compliance with card networks, and product launches.

• Assist with compliance due diligence inquiries from clients, investors, and banking partners.

• Oversee the compliance training program and promote company-wide awareness of regulatory responsibilities.

• Assess the effectiveness of the AML/CTF program, oversee transaction monitoring, and fulfill regulatory reporting requirements.

• Manage annual compliance attestations for Visa and Mastercard, network registrations, BIN and licensing obligations, and the compliance calendar for networks.

• Keep records of regulatory obligations, changes, and incidents in Canada and the U.S.

• Provide support for privacy-related case reporting to regulators.

• Conduct compliance monitoring and testing utilizing key risk indicators and report findings to compliance committees and the Board.

• Approve new products and modifications from a compliance perspective.

⛳️ Requirements

• A minimum of 6 years of experience in financial services, fintech, or payments compliance and regulatory matters.

• Practical knowledge of Canadian payments regulations (RPAA/RPAR) and AML/CTF requirements under the PCMLTFA, or a strong capacity to quickly learn specialized regulatory frameworks.

• Ideal candidates will have experience with card issuing, prepaid products, or money services businesses.

• Proficiency in reading and interpreting legislation, card network regulations, and legal contracts.

• Capability to translate regulatory requirements into actionable operational policies and procedures.

• Excellent analytical, written communication, and cross-functional communication abilities.

• Proven ability to independently manage multiple regulatory workstreams and deadlines in a dynamic environment.

• A bachelor's degree in business, law, finance, or a related field (or equivalent practical experience).

• Working knowledge of the RPAA and RPAR, or a similar payments regulatory framework.

• Compliance certifications such as CAMS, ICA, or CRCM are advantageous.

• Prior experience with the Bank of Canada, OSFI, or a similar regulatory body is a plus.

• Experience in supporting compliance reporting for boards or investors is beneficial.

• Familiarity with U.S. payments regulations, including money transmitter licensing and Regulation Z, is a bonus.

• Experience in Operational Risk Management, including risk assessments, control testing, incident management, and risk reporting, is a plus.

🏝️ Benefits

• Competitive salary and equity options.

• Remote-first work environment (Eastern Time).

• Comprehensive health insurance plan.

• Paid time off (PTO).

• Access to AI-enabled tools and the use of AI as a productivity enhancer.

• Genuine ownership and the chance to influence processes and standards.